The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1887-10-02


r G. Dun & CO. weekly review OF
trade in the east says: while money 10
instantly made easier in Wall Street, it
grows tighter throughout the interior.
Effects of absorption of capital IN build
ing and rapid development are each
week felt more clearly. At Cleveland
money is very close, more Than Sc, 200, 600
having gone from that city alone in
four months for investment farther
west. At Chicago the constant dem and
from country towns causes a pressure
of which no relaxation at present is eX-
pected; that city used to borrow largely
from Boston, but this year Boston has
been investing $50 600 900 or more in
new western railroads, and so scarcity
of money there is felt severely by those
who have been relying on note brokers.
Recent failures cause caution at Phila-
uelphia, aud "single name paper can
not be negotiated Former failures
also cause pressure at Cincinnati, where
per cent. is commonly paid; at New
Orleans money has not been so tight
since the Grant-Ward failure" and
bad failure at Meridian causes some
advertisement; at Kansas City, Omaha
and Milwaukee money is close, and from
nearly all points collections are reported
"slow," or "only fair" The change of
temper he-" is. of course. not yet felt at
Cist mt p ints
During tu- past week the treasury has
paid out ST $40 900 more than it has
taken IN, 50 that It's payments exceed its
receipts for the month by 81 10000.
Gold continues to arrive from Europe,
no more is shipped: the merchandise
exports from New York for three weeks
are per cent. above last year, against
an increase of 10H per cent. in imports
here. 1t is still the fact that gold comes
only for investment or speculation, so
that encouragement might turn the
tide. at present railroad earnings con-
tinue large, the weSt-bound tonnage in
August being 218 100, against 176 395
tons in 1886, and the east-bound for
three months shows slight increase.
Blu: the competition of lake and water
routes grows more severe, and inter
state decisions more embarrassing.
Clearings continue to show an increase
over last year. for last week 7.3 per
cent. this, however, Includes large pay
meuts on account of building and
speculation. Some depression results
from recent failures in the iron trade,
and from continued heavy importa.
tions. and while the best brands of pig
are firm, the heavy output tends to
weaken other era ies. One large order
for rails has been Cancelled. Boot and
shoe sales are not up to recent
expectations, travellers reporting or
ders contracted by monetary pres
sure. Leather and hides are
consequently quill, and some slackening
in the wooden goods trade checks the
late promise of greater activity in wool.
Dry goods experience some reaction
from the unusual activity Of recent
weeks, but prices are firmly held.
Prices in the stock market declined
Monday and Tuesday to the lowest of
the year, but have since recovered
smsrtly. Wheat Is also lifting little,
and new speculation appears in oil,
with some advance in coffee. The ten
dency for the moment is to advance
prices in all markets on account of
Treasury disbursements, but the short
ness of crops and the absorption of
capital into fixed forms must still have
some influence. The business failures
occurring throughout the country du: =
ing the last seven days, az reported to
f. 6. Dun & Co.,, The Mercantile
Agency, to-day, Friday, by telegraph,
number for the United States 1856 and
for Canada 81, or q total of 1e3, as
compared with total of 1873 last week,
and TIA the week previous to the last.
For the corresponding week of 1886
there were 1877 failures-being 165 in the
United States, and % in Canada.